RF components market worth $17.54 billion by 2022

The global Radio Frequency (RF) components market is expected to reach USD 17.54 billion by 2022, according to a new study by Grand View Research, Inc.

Growing adoption of consumer electronics including smartphones, tablets, notebooks, set top boxes and smart televisions is estimated to fuel industry growth over the next few years. Rising consumer disposable income, particularly in developing countries like India and Brazil, paired with overall improvement in global economy, may elevate demand significantly. Technological advancements in the field of wireless communication and development in materials used for manufacturing RF components, such as Silicon Germanium (SiGe) and Gallium Arsenide (GaAs), are also expected to drive industry growth.

Increasing popularity and adoption of high speed networks, such as 3G and 4G, have significantly impacted demand for RF components. Technological advancement enhancing antenna efficiency, by replacing traditional filters with advanced tunable filter, may escalate demand over the next seven years. The industry is poised for growth owing to increasing demand across the automotive industry. Increasing efforts for development of advanced and innovative wireless infrastructure may also propel product demand.

Further key findings from the report suggest that:

Power amplifiers segment accounted for over 30% of the overall share in 2014, which is expected to increase over the next few years, owing to increasing prevalence of mixed-mode 3G/4G handsets coupled with growing emphasis on LTE concept.

Antenna switches are estimated to exhibit rapid growth over the coming years, which may be primarily attributed to increasing experimentation with switch architectures, particularly in higher end handsets. Growing number of 3G/4G handsets are anticipated to broadly contribute to this rapid growth.

Consumer electronics segment accounted for more than 60% of the global revenue in 2014, which is estimated to increase over the coming years, owing to rising consumer disposable income, resulting in increasing adoption of consumer electronic products. Increasing consumer spending for smartphone, tablets and other portable electronic devices may spur demand.

North America accounted for over 30% of the global revenue in 2014. Increasing demand for better mobility solutions is estimated to drive regional market growth. Asia Pacific RF components market is estimated to exhibit dramatic growth over the coming years, attributing to increasing adoption of improved connectivity solutions in the region.